The world economy should expect a bumpy road ahead in 2011 because increasingly uneven growth and widening economic imbalances are making it difficult for the major economies to set priorities for coordinated action, a senior European economist said recently in Tokyo.
"Even though the crisis is over, we are still dealing with postcrisis consequences," said Paola Subacchi, research director for international economics at Chatham House, the London-based think tank formally known as the Royal Institute of International Affairs.
"It is difficult to reconcile domestic goals with global goals" when there is an "increasing gap between what we think is good for rebalancing the world economy and what countries think is good for their domestic economies," Subacchi said at a Keizai Koho Center seminar on Dec. 9.